Significant Mineral Discovery Uncovered on Globex Royalty Property in Northern Quebec
TORONTO – Globex Mining Enterprises Inc. has announced substantial drilling results from the Berrigan Property located near Chibougamau, Quebec, revealing what appears to be a major new mineral discovery. The company holds a 2% gross metal royalty on the property, which is being explored by TomaGold Corporation.
Transformative Drill Results Reveal New Mineral Zone
TomaGold Corporation has reported exceptional results from two drill holes completed on the Berrigan Property, with drill hole TOM-25-015 revealing particularly significant mineralization. The discovery has been named the Berrigan Deep zone and represents what appears to be a substantial new semi-massive sulfide zone that extends at depth beneath previously known mineralized areas.
According to the technical data released, drill hole TOM-25-015 intersected 98.5 meters of mineralization containing 0.82 grams per tonne gold, 3.21 grams per tonne silver, and 1.97% zinc. Within this broader intersection, several higher-grade zones were identified, including:
- 4.90 meters containing 4.69 g/t gold, 18.8 g/t silver, and 4.78% zinc
- 49.35 meters containing 0.90 g/t gold, 3.48 g/t silver, and 3.12% zinc
- 14.60 meters containing 1.34 g/t gold, 5.91 g/t silver, and 4.12% zinc
- 6.20 meters containing 1.63 g/t gold, 5.26 g/t silver, and 7.43% zinc
Additional High-Grade Intersections Reported
The second drill hole, TOM-25-014, also returned promising results, including a 2.10-meter intersection containing 4.94 g/t gold, 56.44 g/t silver, and 4.55% zinc. Additional mineralization was intersected at various depths throughout the hole, confirming the presence of multiple mineralized zones within the property.
TomaGold Corporation has characterized the results as "truly transforming the Berrigan Mine project" and noted that the discovery "highlights a new semi-massive sulfide zone that extends at depth beneath the known zones." The company further stated that these "very encouraging results suggest the presence of a large mineralized system that remains open at depth."
Technical Details and Geological Significance
The reported widths represent core lengths, with true widths estimated to be approximately 80-85% of the core length, depending on deviation angles. The mineralization consists of significant secondary mineralization containing silver and gold, with zinc representing a substantial component of the economic metals present.
The Berrigan Property is located west of the town of Chibougamau in Quebec, a region with a long history of mining activity and significant mineral potential. The discovery of the Berrigan Deep zone represents a potentially important development for both TomaGold Corporation, which is conducting the exploration, and Globex Mining Enterprises, which holds the royalty interest.
Corporate Context and Market Implications
Globex Mining Enterprises Inc. trades on multiple exchanges, including the Toronto Stock Exchange under the symbol GMX, various German exchanges under G1MN, and the OTCQX International in the United States under GLBXF. The company's royalty interest in the Berrigan Property provides exposure to any potential future production without requiring capital investment in exploration or development.
The technical information in the press release was prepared by Jack Stoch, P. Geo., Executive Chairman and CEO of Globex, who serves as a Qualified Person under National Instrument 43-101 standards. The discovery comes at a time when demand for zinc, silver, and gold remains strong, with zinc particularly important for industrial applications and infrastructure development.
This significant mineral discovery in Quebec's established mining region represents potentially important news for shareholders of both companies and highlights the ongoing mineral potential of Canada's mining-friendly jurisdictions.
